Kazuo Hirai To Step Down As Sony CEO

Sony CEO Kazuo Hirai is stepping down from his position after six years in the role, and will be replaced by CFO Kenichiro Yoshida, Sony announced Friday.

“As the company approaches a crucial juncture, when we will embark on a new mid-range plan, I consider this to be the ideal time to pass the baton of leadership to new management, for the future of Sony and also for myself to embark on a new chapter in my life,” Hirai said in a press release. “My successor, Kenichiro Yoshida, has supported me closely since returning to Sony in December 2013 , contributing extensively beyond his remit as CFO and acting as valuable confidant and business partner, as we took on the challenge of transforming Sony together.”

The transition will take effect on April 1, 2018, at which point Hirai will continue serve as chairman and sit on the board of directors. Hirai originally joined Sony in 1984, working in the company’s music division, before joining Sony Computer Entertainment America in 1995. Four years later, he was named president and COO of SCEA, before taking over Sony’s worldwide video game business in 2006.

Yoshida was promoted to the role of CFO in 2014. In a statement, Yoshida said he plans to build on the foundations established by Hirai to “enhance our competitiveness as a global enterprise, and enable us to realize long-term profit growth.”